Dear ,
As requested, let’s look at GBPUSD and the recent events that happened in the previous trading session.
GBPUSD Analysis
| Performance after Thursday | |||||
| Period | Pct | Chg | Momentum | ||
| Thursday | -0.44% | -56.1 Pips |  |
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| Week to-date | -0.19% | -24.3 Pips |  |
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| June | -0.56% | -71.7 Pips | |
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Upcoming key events (London Time)
Fri 07:00 AM GBP Retail Sales Volumes (1-mth)
What happened lately
🇺🇸 U.S. Philadelphia Fed Manufacturing Survey in June dropped to 1.3 points compared to previous figure 4.5 points in May
🇬🇧 U.K. Bank of England Interest Rate Decision (Bank Rate) unchanged at 5.25% compared to previous rate 5.25% Source: Bank of England
🇬🇧 U.K. Retail Price Index (1-mth) in May dropped to 0.4% compared to previous figure 0.5% in April Source: Office for National Statistics
🇬🇧 U.K. Core CPI Inflation Rate (12-mth) in May dropped to 3.5% compared to previous figure 3.9% in April Source: Office for National Statistics
What can we expect from GBPUSD today?
GBPUSD on Thursday dropped -0.44% to 1.26588. Price is below 9-Day EMA while Stochastic is falling.
Updated daily direction for GBPUSD looks bearish as the pair posted lower in Thursday trading session.
Looking ahead for the day, immediate support level is at S1 1.26339 with break below could see further selling pressure towards S2 at 1.26089. To the upside, with the current momentum bearish, we prefer to look at breakout of the recent daily high of 1.27210 as a potential indicator of buying interest. Failure to break the resistance level would continue to echo bearish sentiment. A close below 1.26525 would indicate selling pressure.
For the week to-date, take note that GBPUSD is mixed as compared to the prior week.
Key levels to watch out:
| R3 | 1.27709 |
| R2 | 1.27459 |
| R1 | 1.27024 |
| Daily Pivot | 1.26774 |
| S1 | 1.26339 |
| S2 | 1.26089 |
| S3 | 1.25654 |
